Shentong Express obtained a loan commitment letter from Shanghai Pudong Development Bank's Hangzhou branch for a facility not to exceed RMB 405 million.

PBOC data for June showed a net injection of 10 bln yuan via open‑market government bond transactions, bringing cumulative H1 net injections to 300 bln yuan. June operations also included a 200 bln yuan net MLF injection and a 137.2 bln yuan net withdrawal via other structural liquidity tools. Short‑term liquidity provision comprised 7‑day reverse repo net injections of 582.6 bln yuan and other‑tenor reverse repo net injections of 300 bln yuan. The PBOC’s Q1 monetary policy execution report said it routinely conducts government bond buy/sell operations and will flexibly adjust scale according to base‑money needs and bond‑market conditions.

Southbound Stock Connect net bought 45.38 billion yuan today. Hong Kong Stock Connect via Shanghai: Kingboard Laminates and Tencent Holdings were net bought HK$723m and HK$423m respectively; UBTECH Robotics was the top net seller at HK$551m. Hong Kong Stock Connect via Shenzhen: Xiaomi Group‑W and Kingboard Laminates were net bought HK$492m and HK$181m respectively; Huahong Hongli was the top net seller at HK$1.319bn.